The document contains multiple articles from The Wall Street Journal covering the 2008 financial crisis and aftermath. It reports on the collapse of major financial institutions like Lehman Brothers, Bear Stearns, and AIG through in-depth reporting on their declining stock prices, desperate attempts to avoid bankruptcy, and the impacts of their failures. It also traces how taxpayer bailout money was used, including payments to banks like Goldman Sachs that were counterparties on insurance contracts held by AIG.
India ENews Oct 3, 2008 - Inside the financial tsunami: what brought it on?Jagannadham Thunuguntla
The financial tsunami now inundating global economies and markets was brought on by imprudent easing of US lending norms and extreme over-leveraging by giant US investment banks, analysts say.
Presented by Dr. Robert Dauffenbach for the 2010 Oklahoma Trucking Association's Midwinter Conference
Robert C. Dauffenbach is Associate Dean, Research and Graduate Programs, Professor of Business Administration, and Director, Center for Economic and Management Research, Michael F. Price College of Business, University of Oklahoma.
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
This paper is a summary of press clippings gleaned from Internet during the period April to July 2008. This exercise was performed to provide a quick summary of the US credit crisis at that particular point in time / 2nd quarter 2008. The paper was presented to a non native English speaking European audience consisting primarily of insolvency judges July 3rd 2008 in Paris.
Blog Coverage Bella Caio Oct 10, 2008 Financial Tsunami What Brought It OnJagannadham Thunuguntla
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
The Role of Investment Banks in Deregulatory EnvironmentAakash Kumar
The scope of this research is to know how investment banks have affected globally in deregulated environment. This report covers some basic functions of investment banking, what is financial deregulation and what are some major examples of deregulation in history of USA and UK. Research method for this research will be analyzing the secondary data. In this report, history of investment banking is described. After that how in deregulated environment investment banks create a bubble, which busted affecting million of lives.
Finally, a conclusion is drawn from all the information about the role of investment banking in deregulatory environment giving a brief overview of investment banks and deregulation.
Washington Mutual Bank's Collapse Under An Audit Perspectivehong_nona
This is my MBA project paper of the External Audit course. The project paper was tapped to the hottest topics of the U.S. economic crisis in 2008, three months after the collapse of the biggest U.S. bank institution.
The author incorporated the audit principles in analyzing the root causes of the U.S. economic crisis and how this disaster can be avoided.
TOO BIG TO FAIL
Andrew Sorkin
PROLOGUE
Standing in the kitchen of his Park Avenue apartment, Jamie Dimon poured himself a cup of
coffee, hoping it might ease his headache. He was recovering from a slight hangover, but his head
really hurt for a different reason: He knew too much.
It was just past 7:00 a.m. on the morning of Saturday, September 13, 2008. Dimon, the chief
executive of JP Morgan Chase, the nation’s third-largest bank, had spent part of the prior evening
at an emergency, all-hands-on-deck meeting at the Federal Reserve Bank of New York with a
dozen of his rival Wall Street CEOs. Their assignment was to come up with a plan to save Lehman
Brothers, the nation’s fourth-largest investment bank—or risk the collateral damage that might
ensue in the markets.
To Dimon it was a terrifying predicament that caused his mind to spin as he rushed home
afterward. He was already more than two hours late for a dinner party that his wife, Judy, was
hosting. He was embarrassed by his delay because the dinner was for the parents of their
daughter’s boyfriend, whom he was meeting for the first time.
“Honestly, I’m never this late,” he offered, hoping to elicit some sympathy. Trying to avoid
saying more than he should, still he dropped some hints about what had happened at the meeting.
“You know, I am not lying about how serious this situation is,” Dimon told his slightly alarmed
guests as he mixed himself a martini. “You’re going to read about it tomorrow in the papers.”
As he promised, Saturday’s papers prominently featured the dramatic news to which he had
alluded. Leaning against the kitchen counter, Dimon opened the Wall Street Journal and read the
headline of its lead story: “Lehman Races Clock; Crisis Spreads.”
Dimon knew that Lehman Brothers might not make it through the weekend. JP Morgan had
examined its books earlier that week as a potential lender and had been unimpressed. He also had
decided to request some extra collateral from the firm out of fear it might fall. In the next
twenty-four hours, Dimon knew, Lehman would either be rescued or ruined. Knowing what he did,
however, Dimon was concerned about more than just Lehman Brothers. He was aware that Merrill
Lynch, another icon of Wall Street, was in trouble, too, and he had just asked his staff to make sure
JP Morgan had enough collateral from that firm as well. And he was also acutely aware of new
dangers developing at the global insurance giant American International Group (AIG) that so far
had gone relatively unnoticed by the public—it was his firm’s client, and they were scrambling to
raise additional capital to save it. By his estimation AIG had only about a week to find a solution,
or it, too, could falter.
Of the handful of principals involved in the dialogue about the enveloping crisis—the government
included—Dimon was in an especially unusual position. He had the closest thing to perfect,
real-time information. That ”deal flo w” enable ...
I. Introduction
II. Causes of the current financial crisis
III. A timeline of the most important events
IV. Fannie and Freddie
V. The current financial crisis’ nature
VI. The great depression & lessons from the past
VII. The Impact on Emerging Countries.
VIII. How to solve this problem
IX. Executive Summary
X. Sources
I made this paper for my English course. It\'s a nice paper if you\'re interested in the crisis. You don\'t need to be an economist to understand what I\'m writing about, it\'s written in clear,understandable English!
This version still contains some errors...(it\'s not the final version)
India ENews Oct 3, 2008 - Inside the financial tsunami: what brought it on?Jagannadham Thunuguntla
The financial tsunami now inundating global economies and markets was brought on by imprudent easing of US lending norms and extreme over-leveraging by giant US investment banks, analysts say.
Presented by Dr. Robert Dauffenbach for the 2010 Oklahoma Trucking Association's Midwinter Conference
Robert C. Dauffenbach is Associate Dean, Research and Graduate Programs, Professor of Business Administration, and Director, Center for Economic and Management Research, Michael F. Price College of Business, University of Oklahoma.
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
This paper is a summary of press clippings gleaned from Internet during the period April to July 2008. This exercise was performed to provide a quick summary of the US credit crisis at that particular point in time / 2nd quarter 2008. The paper was presented to a non native English speaking European audience consisting primarily of insolvency judges July 3rd 2008 in Paris.
Blog Coverage Bella Caio Oct 10, 2008 Financial Tsunami What Brought It OnJagannadham Thunuguntla
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up
ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India’s fourth
largest share brokerage firm, the Delhi-based SMC Group, told IANS.
The Role of Investment Banks in Deregulatory EnvironmentAakash Kumar
The scope of this research is to know how investment banks have affected globally in deregulated environment. This report covers some basic functions of investment banking, what is financial deregulation and what are some major examples of deregulation in history of USA and UK. Research method for this research will be analyzing the secondary data. In this report, history of investment banking is described. After that how in deregulated environment investment banks create a bubble, which busted affecting million of lives.
Finally, a conclusion is drawn from all the information about the role of investment banking in deregulatory environment giving a brief overview of investment banks and deregulation.
Washington Mutual Bank's Collapse Under An Audit Perspectivehong_nona
This is my MBA project paper of the External Audit course. The project paper was tapped to the hottest topics of the U.S. economic crisis in 2008, three months after the collapse of the biggest U.S. bank institution.
The author incorporated the audit principles in analyzing the root causes of the U.S. economic crisis and how this disaster can be avoided.
TOO BIG TO FAIL
Andrew Sorkin
PROLOGUE
Standing in the kitchen of his Park Avenue apartment, Jamie Dimon poured himself a cup of
coffee, hoping it might ease his headache. He was recovering from a slight hangover, but his head
really hurt for a different reason: He knew too much.
It was just past 7:00 a.m. on the morning of Saturday, September 13, 2008. Dimon, the chief
executive of JP Morgan Chase, the nation’s third-largest bank, had spent part of the prior evening
at an emergency, all-hands-on-deck meeting at the Federal Reserve Bank of New York with a
dozen of his rival Wall Street CEOs. Their assignment was to come up with a plan to save Lehman
Brothers, the nation’s fourth-largest investment bank—or risk the collateral damage that might
ensue in the markets.
To Dimon it was a terrifying predicament that caused his mind to spin as he rushed home
afterward. He was already more than two hours late for a dinner party that his wife, Judy, was
hosting. He was embarrassed by his delay because the dinner was for the parents of their
daughter’s boyfriend, whom he was meeting for the first time.
“Honestly, I’m never this late,” he offered, hoping to elicit some sympathy. Trying to avoid
saying more than he should, still he dropped some hints about what had happened at the meeting.
“You know, I am not lying about how serious this situation is,” Dimon told his slightly alarmed
guests as he mixed himself a martini. “You’re going to read about it tomorrow in the papers.”
As he promised, Saturday’s papers prominently featured the dramatic news to which he had
alluded. Leaning against the kitchen counter, Dimon opened the Wall Street Journal and read the
headline of its lead story: “Lehman Races Clock; Crisis Spreads.”
Dimon knew that Lehman Brothers might not make it through the weekend. JP Morgan had
examined its books earlier that week as a potential lender and had been unimpressed. He also had
decided to request some extra collateral from the firm out of fear it might fall. In the next
twenty-four hours, Dimon knew, Lehman would either be rescued or ruined. Knowing what he did,
however, Dimon was concerned about more than just Lehman Brothers. He was aware that Merrill
Lynch, another icon of Wall Street, was in trouble, too, and he had just asked his staff to make sure
JP Morgan had enough collateral from that firm as well. And he was also acutely aware of new
dangers developing at the global insurance giant American International Group (AIG) that so far
had gone relatively unnoticed by the public—it was his firm’s client, and they were scrambling to
raise additional capital to save it. By his estimation AIG had only about a week to find a solution,
or it, too, could falter.
Of the handful of principals involved in the dialogue about the enveloping crisis—the government
included—Dimon was in an especially unusual position. He had the closest thing to perfect,
real-time information. That ”deal flo w” enable ...
I. Introduction
II. Causes of the current financial crisis
III. A timeline of the most important events
IV. Fannie and Freddie
V. The current financial crisis’ nature
VI. The great depression & lessons from the past
VII. The Impact on Emerging Countries.
VIII. How to solve this problem
IX. Executive Summary
X. Sources
I made this paper for my English course. It\'s a nice paper if you\'re interested in the crisis. You don\'t need to be an economist to understand what I\'m writing about, it\'s written in clear,understandable English!
This version still contains some errors...(it\'s not the final version)
"Whether we like it or not, the laws of gravity work in financial markets as well and what goes up ultimately comes down," Jagannadham Thunuguntla, head of the capital markets arm of India's fourth largest share brokerage firm, the Delhi-based SMC Group, told IANS.
In this paper Jon Terracciano will examine the current regulatory environment in which hedge funds operate, and will argue that although the regulatory system is in need of reform, proposed legislation is unnecessarily restrictive and could actually harm U.S. and international markets.
Jon terracciano: Hedging the Global Market - IntroductionJon Terracciano
The introduction to a series of presentations on "Hegding the Global Market: Avoiding Excessive Hedge Fund Regulation in a Post-Recession Era". Additional presentations to follow. By Jon Terracciano, 2008
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
8. Housing Bubble Coverage “U.S. Mortgage Crisis Rivals S&L Meltdown; Toll of Economic Shocks May Linger for Years; A Global Credit Crunch” – Greg Ip et al. (Dec 10, 2007) Pg. A.1 Clear, 3000-word explanation of housing bubble origin and impact on economy “MarketWatch: Surviving the Big, Scary ‘Mega-Bubble’ – Paul Farrell (Jul 17, 2005) Addresses readers’ concerns by informing them of experts’ opinions about how to best prepare for potential bursting of bubble Ineffective: Large decrease of “housing bubble” mentions in 2006
9. “The Fall of Bear Stearns”Kate Kelly Part I: May 27, 2008 “’I just simply have not been able to come up with anything, even with the benefit of hindsight, that would have made a difference.’” -- Alan Schwartz, chief executive Bear Stearns “…the firm’s leaders missed opportunities that might have been able to save the 85-year-old brokerage.” “To outsiders, it was beginning to look as if Bear Stearns had navigated the crisis relatively deftly. Inside the firm, that view wasn’t as prevalent.” Part II: May 28, 2008 “It was the beginning of a frantic 72 hours that would bring the Wall Street firm to its knees…show how quickly a company that took 85 years to build could unravel.” “credit- default swaps — a big, barely regulated market where one party, for a price, assumes the riske that bond or loan will go bad.” (layman’s terms) “Inside the sixth-floor conference room…executives cheered and exchanged high-fives. They thought they had four weeks to sort out their problems.” “If This Is a Bubble, It Sure Is Hard to Pop” Tuesday March 30,1999 --- Dow hit 10,000
10. Part III: May 29, 2008 “…capped a helter-skelter week — and presaged another 10 days of chaos. Interviews with more than two dozen executives and others directly involved show that Bear Stearns nearly died not once, but twice.” “Bear Stearns Chief Financial Officer Samuel Molinaro Jr. — tired and in the same suit he’d left home in 36 hours before…” “If there were hazards, moral and otherwise, luring in the deal, the future would have to sort them out.” Conclusions: May 30, 2008 “Bear Stearns Cos., a powerhouse on Wall Street for nearly nine decades, ceased to exist Thursday in a meeting that lasted 11 minutes.” “In doing so, they sealed a deal made in haste two months ago amid one of the most terrifying bank runs in history.”
11. “Lehman Races to Find a Buyer”September 12, 2008 Employees taking lunch breaks or a few minutes for a smoke… discussed the firm’s future. “It’s over, man… unless we get bought out in the next 24 hours, it’s over,” said a young man, in conversation with someone on his cellphone.” At a fast-food vendor across the street, people waiting to order food discussed the dive into Lehman’s share price this week “At some point, where does it stop?” one said, as he headed back to the office
12. Reporting Figures “As a result, Lehman shares fell by as much as 48% by midday Thursday, touching their lowest point since 1995” – Lehman Races to Find a Buyer “Evergreen Money Market Fund had $309 million, or 1.9% of its assets, invested in Lehman credit” – Sponsors to back Some Lehman Exposure “Money Market Fund had $110 million, or 1.66% of its assets invested” – Sponsors to back Some Lehman Exposure
13. Investors Flee Money Funds, Moving Cash to Safer Spots “As credit markets locked up world-wide, investors have started moving their cash from money funds to safer locales, such as U.S. Treasurys and bank certificates of deposit” “A run on money funds would have implications for corporations that depend on short-term funding such as commercial paper” “If the funds don’t buy this paper, it could cause a cash crunch…” “Another source of fund money comes from ‘sweep accounts,’ through which brokerage customers’ spare cash is automatically deposited in a money fund.”
14. Sponsors to Back Some Lehman Exposure; “RIC Money Market fund had $403 million in exposure to Lehman credit… RTC Short Term Investment had $75 million in exposure. “Fidelity Investments said… nine of its general-purpose money funds had minimal exposure to a single Lehman Brothers repurchase agreement. “But all of these holdings were paid in full Tuesday, so Fidelity’s taxable money-market funds now have no exposure.”
18. Tracing The Money March 2009: “[bail-out money] stand to benefit hedge funds that bet on a falling housing market” “its gambling debts are what taxpayers are paying off right now” “From mid-September to the end of last year, AIG and the government paid $5.4 billion to Deutsche and $8.1 billion to Goldman under credit default swap contracts the insurer had written.” “indicating the underlying assets are valued at roughly 27 cents on the dollar”
19.
20. December 12th, 2009 “The trades yielded Goldman less than $50 million in profits, which were mostly booked from 2004 to 2006, according to a person familiar with the matter. But they piled risks onto AIG's books, which later came to haunt the insurer and Goldman. The trades also gave Goldman a unique window into AIG's exposure to losses on securities linked to mortgages. When the federal government bailed out the insurer, Goldman avoided losses on its trades with AIG covering a total of $22 billion in assets.” “Goldman charged more than AIG for the protection, so it was able to pocket the difference, making millions while moving the default risks to AIG” “Goldman officials said the company believed it would have been fully protected had AIG been allowed to fail because of collateral it had amassed and the additional insurance it had bought against an AIG default. The auditor, however, questioned that conclusion. The report said Goldman would have had a difficult time selling the collateral and that the firm might have been unable to actually collect on the additional insurance.”
21. One Year Later “Lessons of the Financial Crisis – One Year Later” – Gregory Zuckerman (Aug 30, 2009) Pg. 1 Gives a list of lessons learned from the crisis using hindsight that can be used to avoid a future crisis Doesn’t blame a particular entity “The End of Wall Street” Documentary Three 10 minute parts: What Happened?, Why It Happened?, What Happens Next Collection of WSJ reporters review crisis and give input on each major event End documentary by sharing how they think the economy will progress
Editor's Notes
All of these items could have and would be discussed in depth further in separate articles to come in the future. They did a good job of mentioning the important issues and trying not to skew things, however more attention could have been paid to how they got into this mess in the first place with the financial products division, leverage, and CDS.
In the months after, questions would rise through congress regarding where the bailout money came from, when taxpayers are being paid back, and where the money went to. In March 2009, developments surrounding the bets of AIG entered the media.Discussion of payouts to banks begins, but is not discussed, or explained very clearly, especially when it comes to determining why the government paid the banks. Goldman claims they were hedged, but this has not been discussed.This needed to be investigated more.Because it was so widespread, filtered, and complicated, it took a lot of time to sort through where the money that went to AIG actually went. This, the bailout, financial regulation (such as hedge funds and short selling) and revelations on corporate spending and compensation lingered for the next year. You can go numerous routes here – but this is one area that should have been discussed more.